Since the introduction of the "transferable nil rate band" couples with total assets of less than £650,000 have had a simple solution available to them to avoid paying inheritance tax (IHT). For many (particularly in the south of England) however the family home well exceeds this limit however there are plans available which can mitigate or indeed completely avoid the tax altogether.

Plans vary from the tried and tested to aggressive tax planning. We use specialist firms of tax planners where such advice is required, however we do produce a simple guide which outlines some of the options available to you.

The "Simplified Pensions" regime has made the pensions inheritance tax (IHT) considerations highly complex.  Up until age 75 if you do not take your pension you may be able to leave your pension fund to your beneficiaries free from IHT however you have to set the pension up right, be in good health at the time you direct the death benefits, and further decide whether you want some discretion over who gets the money (ie to include your spouse) or whether you simply wish to nominate specific individuals.

The new rules on draw down and gifting in draw down add another layer of complexity to pensions and tax planning which again needs specialist advice.

What is it about modern day legislators? Why do they have to make things so ridiculously over complicated?

What is it about modern day legislators? Why do they have to make things so ridiculously over complicated?

Whilst the excellent old enduring powers of attorney remain legal documents, if you want to change them in anyway you have to move to the new bloated LPA regime.  We have undertaken both the health and welfare and the property and affairs documents for many clients who did not wish to use their legal advisers but we still find them a minefield to get right.

You do not have to be an MP to benefit from this the PPRR tax concession (but we are sure it helps!). A simple procedure can save thousands in tax for those with more than one property. Our client notes explain the basics.

We are generally very dubious about specific tax efficient investment schemes such as Venture Capital Trusts, Enterprise Investment Schemes  and Enterprise Zone Trusts as our long term, experience has been that what you gain on the tax relief, you lose on the investment performance however there are some very successful investments for those who wish to shelter gains, or to avoid inheritance tax.

This client booklet explains the available tax efficient investments and why you should (or in many cases should not) make use of the options open to you.

Wills are an incredibly important legal document, not only from the perspective of tax planning but also as a means for ensuring your wishes are carried out after your death.

The tax planning has been all change again since the introduction of the "Transferrable Nil Rate Band" however with many second marriages and concerns over wayward offspring the use of trusts is still prevalent.